Benitec Biopharma Inc. - BNTC STOCK NEWS

Benitec Biopharma (BNTC) has priced an underwritten public offering of 29,809,471 shares of its common stock, including pre-funded warrants, and accompanying warrants at a combined price of $0.60 per share. The offering aims to raise approximately $17.9 million for clinical development of its product BB-301 and related growth activities, with expected closure on September 15, 2022. The warrants are exercisable upon increase in authorized shares, with an exercise price of $0.66, expiring five years from the initial exercise date.

Benitec Biopharma (NASDAQ: BNTC) reported financial results for FY 2022, ending June 30, 2022. Total revenues increased to $73,000, up from $59,000 in FY 2021, primarily due to higher licensing and royalty revenues. However, total expenses rose to $17.9 million, leading to a net loss of $18.2 million or $2.23 per share, compared to a net loss of $13.9 million or $3.23 per share the previous year. The company is advancing its gene therapy pipeline, particularly the BB-301 program for Oculopharyngeal Muscular Dystrophy, with clinical trials planned to start in 2023.

Benitec Biopharma Inc. (BNTC) reported its Q3 Fiscal Year 2022 financial results, showing total revenues of $48,000, a significant increase from $1,000 in Q3 2021. The company's operating expenses decreased to $3.5 million, down from $3.79 million in the previous year. Benitec is advancing its BB-301 clinical development program, with key milestones achieved, including the completion of necessary regulatory submissions in France. The first patients are expected to enroll in the BB-301 treatment study by April 2023, following a six-month observational period.

Benitec Biopharma (NASDAQ: BNTC) reported its Q2 financial results for FY 2022. Total revenues increased to $25,000 from $1,000 in Q2 2021, attributed to licensing and royalty income. Operating expenses rose to $4.9 million, up from $3.2 million, primarily driven by higher research and development costs. The net loss for the quarter was $4.8 million, or $0.59 per share. Key developments include successful regulatory interactions supporting the BB-301 clinical program, expected to commence in mid-2022, targeting Oculopharyngeal Muscular Dystrophy.

Benitec Biopharma (BNTC) reported its Q1 fiscal results for the period ending September 30, 2021. The company reported total revenues of $0, down from $55,000 in Q1 2020, primarily due to reduced licensing and royalty revenues. Operating expenses surged to $4.8 million, compared to $2.7 million in the prior year, with research and development costs rising significantly to $2.8 million. The net loss reached $5 million, highlighting a negative EPS of $0.62. Positive updates were shared regarding the BB-301 program, including successful animal studies and planned Phase 1b/2a trials set for 2022.

Benitec Biopharma (NASDAQ: BNTC) provided an operational update and announced its fiscal year 2021 results, ending June 30. Total revenue was $59,000, a decrease from $102,000 in 2020, largely due to the cessation of government grants. Total expenses grew to $13.7 million from $8.4 million the previous year, with significant increases in R&D costs. The net loss was $13.9 million, or $3.23 per share, compared to a loss of $8.3 million, or $8.10 per share in 2020. The firm has $19.8 million in cash as it progresses its gene therapy programs, particularly BB-301 for Oculopharyngeal Muscular Dystrophy.

Benitec Biopharma (NASDAQ: BNTC), a biotechnology firm focused on gene therapy, announced that its Executive Chairman and CEO, Jerel A. Banks, will present at the H.C. Wainwright 23rd Annual Global Investment Conference on September 13, 2021, at 7:00 P.M. ET. The conference will be held virtually, and interested participants can register at www.hcwevents.com. Benitec specializes in developing genetic medicines using its patented ddRNAi platform, targeting conditions like Oculopharyngeal Muscular Dystrophy and Chronic Hepatitis B.

Benitec Biopharma (BNTC) detailed the design for the BB-301 Phase 1b/2a clinical trial aimed at treating Oculopharyngeal Muscular Dystrophy (OPMD), a genetic disorder affecting approximately 15,000 patients in the U.S., Canada, Europe, and Israel. The trial is slated for 2022 and intends to assess the safety and clinical activity of ascending doses of BB-301 via intramuscular injection. Key endpoints include measuring swallowing efficiency, muscle strength, and dysphagia severity. Currently, no approved therapies exist for OPMD, marking BB-301's potential as groundbreaking.

Benitec Biopharma (BNTC) has announced positive updates regarding its BB-301 Pilot Dosing Study in large animals, aiming for Oculopharyngeal Muscular Dystrophy (OPMD) treatment. Interim analyses revealed significant, dose-dependent tissue transduction and gene expression. BB-301 shows promise in knocking down the target protein responsible for OPMD, a condition affecting approximately 15,000 patients in North America and Europe. The findings support advancing BB-301 into Phase 1b/2a trials in 2022, following successful results from earlier studies in February 2021.